Jeremy Allaire News

The wider cryptocurrency community continues to debate the ongoing fallout following the closure of three major American banks, with calls for neobank services for the industry on the cards.

Circle’s stablecoin USD Coin (USDC) was regaining its $1 peg, at press time. This followed after CEO Jeremy Allaire confirmed that its reserves were secure and that the company had new banking partners lined up for banking beginning Monday morning.

Circle’s stablecoin USD Coin (USDC) is climbing back to its $1 peg following confirmation from CEO Jeremy Allaire that its reserves are safe and the firm has new banking partners lined up at “banking open tomorrow morning.”

Over the last few days, there has been a lot of FUD surrounding Circle after the firm was impacted by the bank run on Silicon Valley Bank (SVB).

Jeremy Allaire, founder and CEO of Circle Internet Financial, recently shared his opinion on the Securities and Exchange Commission (SEC) and its role in regulating stablecoins in the United States. Circle is the issuer of the world’s second-largest stablecoin, USD Coin [USDC], which has a circulating supply of over $42 billion.

The United States Securities and Exchange Commission is not the appropriate agency to regulate stablecoins, according to Circle founder and CEO Jeremy Allaire.

On Feb. 8, Cointelegraph released its annual Top 100 list of the most impactful heroes and villains for 2023. The list is being released in batches of 10, counting down the top players in the crypto space based on their actions and headlines in 2022 and their expected impact for 2023. So far, Cointelegraph has released numbers 81–100.

A spokesperson for USD Coin (USDC) issuer Circle has denied reports that it blames the United States Securities and Exchange Commission (SEC) over its failed $9 billion plan to go public in December.

In a wide-ranging discussion, a panel of blockchain industry personalities at the World Economic Forum (WEF) concluded that the economy will become increasingly tokenized in the future. Carbon credits, housing, electricity, government bonds, forex, and other real-world assets will be traded on the blockchain, according to the panel.

As the World Economic Forum brings global leaders together to tackle global issues, a number of cryptocurrency and blockchain events will create a vibrant sideshow in the snowy ski destination in the Swiss Alps.

The FTX collapse was bad, but how bad? Almost from the moment that the Bahamas-based exchange suspended cryptocurrency withdrawals in early November — and three days before it filed for bankruptcy — the historic comparisons started flying. 

Circle, the US financial services firm behind the stablecoin USDC, has changed its mind about seeking a public listing in the near future, and now says it will stay focused on building “a long-term public company.”

Major cryptocurrencies were trading in the green early on December 6 as the global crypto market cap decreased 0.86 per cent to $856.36 billion, over the last day. The total crypto market volume over the last 24 hours is $40.21 billion, which makes a 26.48 per cent increase.

According to a statement, the decision was made because Concord had until 10 December to consummate the deal but has yet to secure the necessary Securities and Exchange Commission S-4 registration statement green light.Circle chief Jeremy Allaire insists the blockchain giant still plans to list in the future."We are disappointed the proposed transaction timed out, however, becoming a public company remains part of Circle's core strategy to enhance trust and transparency, which has never been more important," he says.Adds Diamond: "I remain confident in Circle's regulatory-first approach to building trust and transparency in the financial industry, which has never been more important, and I will continue being an advocate for the company as it continues to grow."

Cryptocurrency operator Circle Internet Financial said on Monday it has decided to end a $9 billion deal with blank-check firm Concord Acquisition Corp, nearly ten months after an earlier agreement was amended.

According to a new press release published on Dec. 5, USD Coin (USDC) issuer Circle announced the mutual termination of its proposed merger with special purpose acquisition company, or SPAC, Concord Acquisition. The deal was announced in July 2021 with a preliminary valuation of $4.5 billion and was then amended in February 2022 when Circle's valuation ballooned to $9 billion. USDC is currently the second largest stablecoin in circulation, with a market cap of $43 billion. 

Circle, the company behind the issuance of USDC Coin (USDC) said recent events have caused it to miscalculate its financial projections — referring to the collapse of FTX and a decision by rival exchange Binance.

Amid the liquidity crisis that fell over crypto exchange FTX and trading firm Alameda Research, some of the largest crypto companies face calls for transparency to let users know if there are risks. However, executives assured the community that they do not have exposure to either of the troubled firms. 

The US-based stablecoin issuer Circle is turning bullish on the crypto industry in European Union (EU), calling the Markets in Crypto Assets (MiCA) law “a regulated path for stablecoins in Europe.”

At the Converge22 conference in San Francisco, Jeremy Allaire, CEO of stablecoin issuer Circle, said that the world is finally moving from the speculative value phase of crypto to the utility phase. Drawing parallels to the early days of the internet, he said:

Circle [USDC] has kept Tether [USDT] on its toes in the stablecoin superiority fight since the start of 2022. However, the recent Binance decision to convert other stablecoins except for USDT to Binance USD [BUSD]  has dealt USDC’s mission a big blow.